Core Viewpoint - KPN's strategic execution allows for a structural return of additional capital to shareholders through a €250 million share buyback and a projected €20.00 dividend per share for 2026, distributing all Free Cash Flow to shareholders [1]. Group 1: Share Buyback Details - KPN plans to initiate a €250 million share buyback starting on January 29, 2026, expected to conclude by June 29, 2026 [1]. - Up to 1.5 million of the repurchased shares will be used for employee share plans, with the remainder to be canceled to reduce KPN's capital [2]. - An intermediary has been engaged to repurchase shares in the open market, adhering to regulations, with purchases priced between the par value and 110% of the average closing price on Euronext Amsterdam for the five trading days prior to purchase [3]. Group 2: Authorization and Compliance - The share buyback will be conducted within the authority granted by the Annual General Meeting of Shareholders, allowing the purchase of up to 10% of KPN's issued share capital from April 16, 2025, for 18 months [3]. - As of now, 48,760,153 shares have already been repurchased under the 2025 share buyback program [3]. Group 3: Reporting and Updates - KPN will provide weekly updates on the share buyback progress, with the first report scheduled for February 2, 2026 [4].

Core Viewpoint - GAM portfolio managers are questioning Honda's decision to sell its controlling stake in Yutaka Giken at a significant discount compared to the tender offer for minority shareholders, raising concerns about governance and fiduciary responsibilities [1][4][9]. Group 1: Transaction Details - Honda is selling its 50.65% controlling shareholding in Yutaka Giken for ¥1,470 per share, valuing the entire company at approximately ¥22 billion [3][8]. - In contrast, SAMIL's tender offer to minority shareholders is ¥3,024 per share, indicating a 50% discount on the controlling stake [3][8]. - The transaction is described as one of the lowest takeover offers observed in the Japanese market, especially for a profitable company with net cash of ¥42.2 billion and tangible book value of ¥100.2 billion [8][9]. Group 2: Governance Concerns - The portfolio managers express concerns about potential conflicts of interest and the lack of transparency regarding the sale process, questioning whether a proper auction was conducted [9][10]. - They demand clarity on ancillary transactions mentioned in the tender offer, including SAMIL's purchases of Yutaka Autoparts India and an 11% stake in Shinnichi Kogyo directly from Honda [3][9]. - The letter emphasizes that Honda's actions may represent a breach of fiduciary responsibilities, particularly in light of Japan's advancements in corporate governance [4][9]. Group 3: Treasury Shares and EPS Growth - Honda holds approximately 26% of its shares as treasury shares, a significantly higher percentage compared to its peers, which raises questions about its capital management strategy [10][12]. - The portfolio managers argue that immediate cancellation of these treasury shares would enhance Honda's earnings per share (EPS) and align with best corporate governance practices [10][12]. - Honda's EPS growth has consistently lagged behind competitors, with a five-year compound annual growth rate (CAGR) of 15.6%, compared to Toyota's 19.8% and Suzuki's 24.7% [12].

Core Viewpoint - EXEL Industries Group reported a significant decline in revenue for Q1 2025-2026, with a decrease of 17.5% on a reported basis and 15.5% on a like-for-like basis, reflecting challenging market conditions across various sectors [2][10]. Revenue Breakdown - Agricultural Spraying revenue fell to €49.0 million, down 21.1% from the previous year, with a notable decline in Western Europe, while Eastern Europe showed some growth [3][10]. - Sugar Beet Harvesting revenue decreased to €13.5 million, down 29.4%, impacted by falling sugar prices and reduced beet crop acreage [4]. - Leisure revenue was reported at €11.8 million, down 8.8%, although the garden business showed strong sales in the UK [5]. - Industrial revenue decreased to €59.3 million, down 12.5%, affected by a declining automotive market and the implementation of a new ERP system [6][10]. Market Conditions - The agricultural market remains cautious, with farms and dealers delaying equipment renewals and investments [3]. - In Sugar Beet Harvesting, investment is slow due to declining cultivated areas and sugar prices, although some regions like Russia and Eastern Europe are performing better [9]. - The garden business is experiencing a positive order level, but dealers are cautious due to the economic climate [12]. Future Outlook - The order book for Agricultural Spraying is slightly better than the previous year, with expectations for a favorable market cycle to return later than anticipated [8]. - A federal support package of $12 billion in the US is expected to boost demand for agricultural machinery [8]. - The Technical Hoses business shows an improving outlook with positive momentum in retail and B2B segments [12].

Core Insights - PayPoint Plc has shown significant progress in Q3 FY26, with a focus on operational delivery despite a challenging market environment, and is on track to achieve record profits for the year [3][6]. Key Group Metrics - Net revenue for Q3 FY26 was £52.7 million, a slight decrease of 0.5% compared to £53.0 million in Q3 FY25 [2]. - The Shopping division maintained revenue at £16.1 million, while the E-commerce division grew by 2.4% to £4.2 million [2]. - Payments and Banking division saw a revenue increase of 2.1% to £14.3 million, whereas the Love2shop division experienced a decline of 3.2% to £18.1 million [2]. Divisional Performance Shopping Division - Service fee net revenue increased by 7.3% to £5.9 million, driven by growth in PayPoint One/Mini sites [8]. - Card processed value decreased by 6.8% to £1.6 billion, reflecting lower consumer spending patterns [8]. E-commerce Division - Parcels net revenue rose by 2.4% to £4.2 million, with parcel transactions increasing by 6.7% to 38.2 million [9]. - The rollout of the Royal Mail Shop brand is expected to enhance service offerings [9]. Payments & Banking Division - Digital net revenue increased by 18.2% to £5.3 million, with significant growth in the MultiPay platform [10]. - Cash net revenue decreased by 9.0% to £6.9 million, aligning with market expectations [10]. Love2shop Division - Billings for Love2shop Business increased by 5.2% to £74.9 million, supported by strong performance in Managed and Major Accounts [11][12]. - InComm Payments billings surged by 238.9% to £6.1 million, reflecting expanded distribution [12]. Financial Position - As of 31 December 2025, the Group reported net corporate debt of £131.3 million, an increase from £97.4 million as of 31 March 2025 [13]. - The Board declared an interim dividend of 19.8p per share, a 2.1% increase from the previous year [14]. Share Buyback Program - The Group has initiated an extended share buyback program, targeting at least £30 million per annum until March 2028, aiming to reduce the equity base by at least 20% [15][16].

Core Viewpoint - The board of directors of MT Højgaard Holding A/S will propose Torben Bender for election to the board, replacing Pernille Fabricius, who is resigning after 12 years of service [1]. Group 1: Candidate Profile - Torben Bender, 58 years old, is a Danish citizen and a qualified state-authorised public accountant [2]. - He has a decade of experience at EY Denmark, serving as CEO and country manager, and was Chairman of the board until 2024 [2]. - Bender began his career in the auditing industry in 1991 at KPMG [2]. Group 2: Board Experience and Competencies - Bender is currently a board member of UNICEF Denmark, chairing the Risk and Audit Committee, and has held positions in various organizations including the Board Leadership Society and DI Rådgiverne [3]. - His competencies include financial management, auditing, reporting in listed companies, M&A, management, and strategic development [4]. - He has experience in the construction industry as an auditor for several companies, including MT Højgaard Holding, where he served as the general meeting-elected auditor until 2023 [4]. Group 3: Strategic Importance - The election of Bender is part of a generational change in the board initiated last year, aimed at aligning the board's composition with MT Højgaard Holding's strategic opportunities [5]. - Chairman Morten Hansen expressed satisfaction with attracting a competent profile like Bender to the board [5].

Core Insights - ZetaDisplay has partnered with LG Electronics to enhance the deployment of digital signage content by preloading ZetaDisplay's Engage Suite software on LG's professional displays, aiming to simplify installation and accelerate content distribution [1][2] Company Overview - ZetaDisplay, founded in 2003 in Sweden, is a leading player in the digital signage market, with over 125,000 active installations across more than 50 countries [9][10] - The company has a turnover exceeding SEK 600 million and employs approximately 250 staff members [11] Product Features - Engage Suite is a modular digital signage software platform designed for secure, scalable, and reliable operation across various digital signage networks [3] - The platform includes a powerful content management system, an intuitive admin panel, and integrated apps for dynamic content and automation [3] - The preloaded Engage Suite significantly reduces setup complexity, allowing for immediate configuration after installation [4] Integration Benefits - The integration of Engage Suite allows organizations to deploy digital signage content more quickly and with fewer technical steps, transforming in-store screens into revenue-generating assets [2][6] - Built-in analytics and API integrations facilitate the management and scaling of retail media networks [6] Strategic Comments - ZetaDisplay's Chief Business Officer emphasized that seamless integration of software and hardware accelerates project timelines and simplifies rollouts [7] - LG Electronics' B2B Director highlighted the long-standing partnership with ZetaDisplay and the adaptability of Engage Suite to meet the unique challenges of the digital signage industry [7]

Group 1 - Borregaard ASA will report its fourth quarter 2025 results on February 4, 2026, at 07:00 CET, with a stock exchange announcement to follow [1] - A presentation of the results will take place at 08:30 CET at Pareto Securities AS in Oslo, and it will be available for live streaming on the company's website [2] - The presentations will be conducted in English, and attendees will have the opportunity to ask questions via the web [2] Group 2 - For further inquiries, Lotte Kvinlaug serves as the Investor Relations Officer and can be contacted at +47 922 86 909 [3] - The information provided is subject to the disclosure requirements under the Norwegian Securities Trading Act and the EU Market Abuse Regulation [3]

Core Viewpoint - Sampo plc has initiated a share buyback program, acquiring a total of 318,027 shares on 27 January 2026, as part of a broader plan to repurchase shares worth up to EUR 150 million, which commenced on 6 November 2025 [1][2]. Group 1: Share Buyback Details - On 27 January 2026, Sampo plc acquired 318,027 of its own A shares at an average price of EUR 9.43 per share across various markets [1]. - The buyback volume included 13,458 shares on AQEU, 123,778 shares on CEUX, 35,869 shares on TQEX, and 144,922 shares on XHEL [1]. - The share buyback program is in compliance with the Market Abuse Regulation (EU) 596/2014 and was authorized by Sampo's Annual General Meeting on 23 April 2025 [1]. Group 2: Ownership and Representation - Following the transactions, Sampo plc owns a total of 14,443,639 A shares, which represents 0.54% of the total number of shares in the company [2]. - The announcement of the buyback program and its details were communicated through various stock exchanges, including Nasdaq Helsinki, Nasdaq Stockholm, Nasdaq Copenhagen, and the London Stock Exchange [2].

Group 1 - The company reported FY25 Group service revenues increased by 2.7% year-on-year, with adjusted EBITDA AL of €2,636 million, reflecting a 5.1% year-on-year growth, including contributions of +1.0% from IPR and +1.0% from Althio [2] - Free cash flow (FCF) for FY25 was €952 million, with indirect costs reduced by €10 million year-on-year, indicating an improvement in operational performance [2] - In Q4, Group service revenue growth was 1.8% year-on-year, with all segments contributing positively [2] Group 2 - Consumer service revenues in Q4 rose by 1.2% year-on-year, supported by an improving trend in mobile service revenue [2] - The company experienced sustained commercial momentum in broadband, adding 12,000 net customers in Q4 and a record 38,000 for the full year [2] - Business service revenues increased by 2.3% year-on-year in Q4, primarily driven by small and medium enterprises (SME) [2] Group 3 - Wholesale service revenue grew by 3.9% year-on-year in Q4, mainly due to international sponsored roaming [2] - The company led the Dutch fiber market, adding 440,000 homes passed and 399,000 homes connected in FY25 [2] Group 4 - The outlook for 2026 includes service revenue growth of 2% to 2.5% year-on-year, adjusted EBITDA AL of approximately €2,670 million, capital expenditures around €1.25 billion, and free cash flow exceeding €950 million [2] - The company plans a 10% growth in dividends per share (€0.20 per share) and a new €250 million share buyback, returning all free cash flow to shareholders in 2026 [2]

Core Viewpoint - Idorsia Ltd has entered into an exclusive license and supply agreement with EMS S.A. to commercialize QUVIVIQ™ (daridorexant) in Latin America, marking a significant step in the company's global expansion strategy [2][3]. Company Overview - Idorsia is focused on developing transformative medicines and aims to challenge existing medical paradigms. The company is headquartered in Allschwil, Switzerland, and is listed on the SIX Swiss Exchange [15][16]. - EMS S.A. is Brazil's largest privately-owned pharmaceutical company, with over 60 years of history and a strong market presence in various pharmaceutical segments [13][14]. Product Information - QUVIVIQ is an innovative treatment for insomnia that selectively blocks orexin receptors, promoting restorative sleep without broadly suppressing brain activity. It is designed to improve both sleep quality and daytime functioning [5][6]. - Clinical trials have shown that daridorexant significantly improves sleep onset, maintenance, and total sleep time, with a notable enhancement in daytime functioning at a 50 mg dose compared to placebo [6]. Market Potential - Insomnia affects millions in Latin America, with current treatments often leading to next-day drowsiness and dependence, indicating a strong unmet need for safer alternatives [4][11]. - The partnership with EMS is expected to enhance the availability of QUVIVIQ in Latin America, reinforcing Idorsia's commitment to making the product a global brand [7][10]. Financial Terms - Idorsia is set to receive a total milestone compensation of USD 20 million for the execution of the agreement, along with supply prices and double-digit royalties on net sales in Brazil and Mexico [10].